Interactive Voice Response (IVR) Systems: Market Research Report

Date: January 5, 2016
Pages: 255
Price:
US$ 4,950.00
Publisher: Global Industry Analysts, Inc
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: I029B9AECF3EN
Leaflet:

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Interactive Voice Response (IVR) Systems: Market Research Report
This report analyzes the worldwide markets for Interactive Voice Response (IVR) Systems in US$ Million by the following Product Segments: Less than 24 Ports, 25 to 46 Ports, 47 to 64 Ports, and 65 and Above Ports. The report provides separate comprehensive analytics for the US, Canada, Europe and Rest of World. Annual estimates and forecasts are provided for the period 2015 through 2022. Also, a six-year historic analysis is provided for these markets. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based on public domain information including company URLs. The report profiles 84 companies including many key and niche players such as -
  • [24]7 Inc.
  • Aspect Software, Inc.
  • AT&T, Inc.
  • Avaya, Inc.
  • Cisco Systems, Inc.
I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

Study Reliability and Reporting Limitations
Disclaimers
Data Interpretation & Reporting Level
Quantitative Techniques & Analytics
Product Definitions and Scope of Study

II. EXECUTIVE SUMMARY

1. INDUSTRY OVERVIEW

Customer Service Automation Continues to Play a Crucial Role in Shaping Brand Experiences
Droids Take Over Live Customer Care Agents, Expanding Opportunities for IVR
IVR: Technology/Market Overview
Product Market Structure: A Statistical Insight

Table 1. Global IVR Systems Market (2015): Percentage Breakdown of Installed Systems by Input Mode (includes corresponding Graph/Chart)
Table 2. Global IVR Systems Market (2015): Percentage Breakdown of Installed Systems by Number of Menus (includes corresponding Graph/Chart)
Table 3. Global IVR Systems Market (2015): Percentage Breakdown of Installed Systems by Gender Voice (includes corresponding Graph/Chart)

Noteworthy Trends, Drivers & Issues
Healthy Outlook for the World Call Center Industry to Offer Trickle Down Benefits to the IVR Market

Table 4. Strong Investments in Call Centers to Benefit Demand for IVR as an Essential Call Center Equipment Indispensable in Keeping Operations Effective & Efficient: Global Spending On Call Centers (In US$ Million) by Geographic Region for the Years 2016 & 2022 (includes corresponding Graph/Chart)

Mobile Telephony Revolution Creates Explosion in Inbound Call Volumes & Spurs Opportunities for IVR for Automating Call Handling

Table 5. Strong Smartphone Penetration & a Parallel Rise in Inbound Customer Service Calls from Mobile Devices Strengthens the Business Case for IVR Auto Attendant for High Call Volume Handling: Global Smartphone Connections (in Billion) and Adoption Rate (as % of Total Mobile Connections) for Years 2013 through 2020 (includes corresponding Graph/Chart)

Continued Use of Telemarketing to Create Valuable Sales Leads, Drives Opportunities for Outbound IVR
Advanced Natural Language Interactive IVR Comes of Age

Table 6. Commercial Evolution of the Speech Technology Market Bodes Well for the Development of Affordable Speech Enabled IVR: World Market for Speech Technology (In US$ 000) by Technology Category for the Years 2016 & 2020 (includes corresponding Graph/Chart)

Focus On Customer Experience Monitoring Drives Home the Importance of IVR Analytics

Table 7. Growing Interest in Customer Experience Monitoring Encourages Investments in IVR Self-Service Business Intelligence: Global Revenue Breakdown for Customer Experience Monitoring Solutions (In US$ 000) by Geographic Region for the Years 2016 & 2020 (includes corresponding Graph/Chart)

Focus On Personalized Marketing & Customer Service Drives Opportunities for Personalized IVR
Visual IVR: The Future of Personalized & Digital IVR Experience
Cloud Based IVR Makes Its Disruptive Emergence in the Market

Table 8. Significant Financial Benefits of Cloud Adoption Fuels Interest in Migrating IVR to the Cloud:
Breakdown of Annual Benefits Per Company (In US$ 000) Accruing from Reduced Costs per Cloud Application Deployed (includes corresponding Graph/Chart)Breakdown of Additional Revenue Opportunity Created Per Company (In US$ 000) per Cloud Application Deployed (includes corresponding Graph/Chart)
Growing Complexity of IVR Infrastructure Maintenance Spurs Interest in Managed IVR Solutions
Convergence of Big Data & Customer Experience Fuel the Emergence of Smart IVR Technology Solutions
Companies Step Up Efforts to Analyze IVR Data
Growing Popularity of IVR Payment Processing to Benefit Market Growth
Rise in IVR Security Threats Spurs Demand for Voice Biometrics Based IVR
Healthcare Consumerism Drives Demand for IVR in the Healthcare Industry

Table 9. Migration to Value Based Healthcare Spurs Opportunities for IVR in Optimizing Patient Satisfaction by Delivering Personalized, High Quality Care: % of Conventional Medicare Payment Linked to Quality & Value in the United States for the Years 2013, 2016 & 2018 (includes corresponding Graph/Chart)

IVR in Clinical Research Gains Prominence
Prescription Refills Through IVR Gains Prominence in the Competitive Pharmaceutical Retail Market

Table 10. Rising Per Capita Pharmaceutical Spending & the Switch From Branded to Generic Drugs Fuel Competition in Drug Retailing & Bring Valued Added Services Through IVR into the Spotlight:
Pharmaceutical Per Capita Spending (In US$) in Select Countries for the Years 2015 & 2020Growing Share of Generics in the Pharmaceutical Industry (In % Value Share) in Select Countries for the Years 2010 & 2015
Lack of Human Touch: A Key Perspective Bottleneck to Growth
Competitive Scenario
Select IVR Solutions for Small Business
Market Outlook

2. PRODUCT OVERVIEW

What are Interactive Voice Response Systems?
Application Areas
Advantages of IVR
Manage High Call Volume
Decrease Per Transaction Cost
Prioritizes Incoming Calls
Enhances First Call Resolution Rates
Automating Customer Support
24X7 SERVICE
Eliminate Need for a Separate Customer Support Agent
Smaller Companies and Startups
Limitations
Basic Requirements for Deploying an IVR System
IVR System Development
Higher-End Tools
IP-PBX Server
IVR Protocols
VoIP
SIP
TCP/IP Protocols
What is Speech Recognition?
Infrastructure Market
Deployments at Enterprise Level - Influencing Growth
Technology Enhancements – Serving as a Medium
Potential Drawbacks
Speech Recognition Framework
Telephony Platform
Enterprise-Based Speech Recognition Applications
Network-Based Speech Recognition Applications
Voice Portals
Factors Contributing to Growth in Speech Recognition Market
Development of Speech Technology
Impending Bottlenecks
Integration – Not the Best Solution
Noisy Environments – Not Suitable
Speech Recognition – Optional than Compulsion
Lower Note of Economic Situation – Pulling Down Demand
Benefits of Speech-Enabled IVR Solutions
Speech-Enabled Applications & Services
IVR Technologies
Voice Recognition (VR)
Speech Verification or Voice Authentication
Text-to-Speech (TTS)
Audiotext
Computer Telephony Integration (CTI)
What is VoiceXML Technology?
VoiceXML Design
VoiceXML Improves Customer Service
VoiceXML Offers Benefits at Low Costs
VoiceXML - Enhancing Speech Recognition Technology
What’s SALT Technology?
What are Voice Portals?
IVR in Various Communication Applications
Multi-Modal Interactions
Text Messaging
Tablets and Smartphones
Speech Recognition Interface
Unified Communications
Social Networks
Speech and Text-to-Speech Integration
Streaming Media Servers
Visual IVR
Voice Biometrics
IVR Analytics
Simplified IVR Development Environments
Multi-Channel Outbound IVRs
History of IVR Systems

3. END-USE MARKET ANALYSIS

Travel and Financial Industry: Promoters of Speech Recognition Technology
Contact Center/Call Center
Speech-Enabled IVR Systems: Imperative for Contact Centers
Role of Interactive Voice Response (IVR) Systems in Contact Centers
IVR Systems in the Banking Sector
Retail Industry
Healthcare Sector
IVRs in Hospital Settings
Role of IVRS in Educational Institution
Utilities
IVR - Public Opinion Polls

4. PRODUCT/SERVICE LAUNCHES

Cooper-Atkins Rolls Out Advanced IVR Service for TempTrak Enterprise Monitoring System
Pindrop Unveils IVR Anti-Fraud
E-Complish Launches Advanced IVR System
Manulife Introduces IVR System in Canada
Zendesk Announces Availability of Advanced Voice in Zendesk’s Cloud-Based Contact Center
Beltelecom Rolls Out Information Service through IVR System
Delhi Metro Rail Introduces IVRS Helpline
NICE Systems Unveils IVR Analytics Solution
OSN Launches an Advanced IVR System
24/7 CUSTOMER RELEASES NEW VERSION OF [24]7 SPEECH
Fonetic Solutions Rolls Out Linguistics Voice Platform
TelcoAlert Offers IVR System Monitoring and Call Center Load Testing
Spoken Communications Unveils a New Spoken Smart IVR
Survey & Ballot Systems Provides Phone Voting and IVR Services
TTC Mobile Commences Implementation of Cloud-Based IVR Platform
Dubai Hospital Launches IVR System
Aria Telecom Rolls Out Special IVR Systems for Call Centers

5. RECENT INDUSTRY ACTIVITY

WTI Holdings Acquires IBM WebSphere Voice Response and IBM Unified Messaging
Radish Systems Partners with IVR Technology
Radish Systems Forms Partnership with GM Voices
Nuance Collaborates with TalkTalk to Improve IVR Experience
AGNITY Global Collaborates with Radisys
IVR Clinical Concepts Unveils New Brand Identity
TeleVoice Implements Customized IVR Solution at 360 Mortgage Group
E-Complish Enters into Partnership with Dominion Dental Services
IVR Technology Group and Jacada Forms Partnership
GM Voices Partners with Automated Voice & Data Solutions
Jacada Bags US Patent for Visual IVR Technology
BandTel Acquires MCCT Matrix IVR Technology
Altivon Partners with TekVision Technologies
T-Mobile Czech Republic Upgrades IVR System
E-Complish Join Forces with Municipal Parking Services
Lockhart Power Company Selects Milsoft IVR Communications
The Emirates Identity Authority Announces Addition of Urdu to its IVR
Aspect Software Acquires Voxeo
AXON Integration & Development Teams Up with Nu Echo
Uganda Telecom Purchases IVR System

6. FOCUS ON SELECT PLAYERS

[24]7 Inc. (USA)
Aspect Software, Inc. (USA)
AT&T, Inc. (USA)
Avaya, Inc. (USA)
Cisco Systems, Inc. (USA)
Connect First, Inc. (USA)
Convergys Corp. (USA)
Database Systems Corp. (USA)
Dialogic Corporation (Canada)
E-Complish, Inc. (USA)
Enghouse Systems Limited (Canada)
Genesys (USA)
Healthcare Technology Systems (HTS) (USA)
Mitel Networks Corporation (Canada)
Nuance Communications, Inc. (USA)
True Image Interactive, Inc. (USA)
Verizon Communications, Inc. (USA)
Voicent Communications, Inc. (USA)
West Corporation (USA)

7. GLOBAL MARKET PERSPECTIVE

Table 11. Global Recent Past, Current & Future Analysis for Interactive Voice Response (IVR) Systems by Geographic Region - US, Canada, Europe and Rest of World Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 12. Global Historic Review for Interactive Voice Response (IVR) Systems by Geographic Region - US, Canada, Europe and Rest of World Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2009 through 2014 (includes corresponding Graph/Chart)
Table 13. Global 14-Year Perspective for Interactive Voice Response (IVR) Systems by Geographic Region - Percentage Breakdown of Revenues for US, Canada, Europe and Rest of World Markets for the Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)

Analytics by Product Segment

Table 14. Global Recent Past, Current & Future Analysis for Interactive Voice Response (IVR) Systems (Less than 24 Ports) by Geographic Region - US, Canada, Europe and Rest of World Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 15. Global Historic Review for Interactive Voice Response (IVR) Systems (Less than 24 Ports) by Geographic Region - US, Canada, Europe and Rest of World Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2009 through 2014 (includes corresponding Graph/Chart)
Table 16. Global 14-Year Perspective for Interactive Voice Response (IVR) Systems (Less than 24 Ports) by Geographic Region - Percentage Breakdown of Revenues for US, Canada, Europe and Rest of World Markets for the Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)
Table 17. Global Recent Past, Current & Future Analysis for Interactive Voice Response (IVR) Systems (25 to 46 Ports) by Geographic Region - US, Canada, Europe and Rest of World Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 18. Global Historic Review for Interactive Voice Response (IVR) Systems (25 to 46 Ports) by Geographic Region - US, Canada, Europe and Rest of World Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2009 through 2014 (includes corresponding Graph/Chart)
Table 19. Global 14-Year Perspective for Interactive Voice Response (IVR) Systems (25 to 46 Ports) by Geographic Region - Percentage Breakdown of Revenues for US, Canada, Europe and Rest of World Markets for the Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)
Table 20. Global Recent Past, Current & Future Analysis for Interactive Voice Response (IVR) Systems (47 to 64 Ports) by Geographic Region - US, Canada, Europe and Rest of World Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 21. Global Historic Review for Interactive Voice Response (IVR) Systems (47 to 64 Ports) by Geographic Region - US, Canada, Europe and Rest of World Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2009 through 2014 (includes corresponding Graph/Chart)
Table 22. Global 14-Year Perspective for Interactive Voice Response (IVR) Systems (47 to 64 Ports) by Geographic Region - Percentage Breakdown of Revenues for US, Canada, Europe and Rest of World Markets for the Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)
Table 23. Global Recent Past, Current & Future Analysis for Interactive Voice Response (IVR) Systems (65 and Above Ports) by Geographic Region - US, Canada, Europe and Rest of World Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 24. Global Historic Review for Interactive Voice Response (IVR) Systems (65 and Above Ports) by Geographic Region - US, Canada, Europe and Rest of World Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2009 through 2014 (includes corresponding Graph/Chart)
Table 25. Global 14-Year Perspective for Interactive Voice Response (IVR) Systems (65 and Above Ports) by Geographic Region - Percentage Breakdown of Revenues for US, Canada, Europe and Rest of World Markets for the Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)

III. MARKET

1. THE UNITED STATES

A. Market Analysis
Outlook
Market Overview
IVR System Vendors Facing Decline in Profit Margin
Speech-Enabled IVR Systems Increasing Efficiency
Advances in Technology and Economic Recovery to Bolster IVR Market
New Technology Leveraging Efficiency and Profitability to Pharmaceutical Market
Compatibility and Interoperability Features to Spearhead Future Markets
Product/Service Launches
Strategic Corporate Developments
Select Players
B. Market Analytics

Table 26. US Recent Past, Current & Future Analysis for Interactive Voice Response (IVR) Systems by Product Segment - Less than 24 Ports, 25 to 46 Ports, 47 to 64 Ports and 65 and Above Ports Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 27. US Historic Review for Interactive Voice Response (IVR) Systems by Product Segment - Less than 24 Ports, 25 to 46 Ports, 47 to 64 Ports and 65 and Above Ports Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2009 through 2014 (includes corresponding Graph/Chart)
Table 28. US 14-Year Perspective for Interactive Voice Response (IVR) Systems by Product Segment - Percentage Breakdown of Revenues for Less than 24 Ports, 25 to 46 Ports, 47 to 64 Ports and 65 and Above Ports Markets for the Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)

2. CANADA

A. Market Analysis
Outlook
Product Launch
Strategic Corporate Development
Select Players
B. Market Analytics

Table 29. Canadian Recent Past, Current & Future Analysis for Interactive Voice Response (IVR) Systems by Product Segment - Less than 24 Ports, 25 to 46 Ports, 47 to 64 Ports and 65 and Above Ports Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 30. Canadian Historic Review for Interactive Voice Response (IVR) Systems by Product Segment - Less than 24 Ports, 25 to 46 Ports, 47 to 64 Ports and 65 and Above Ports Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2009 through 2014 (includes corresponding Graph/Chart)
Table 31. Canadian 14-Year Perspective for Interactive Voice Response (IVR) Systems by Product Segment - Percentage Breakdown of Revenues for Less than 24 Ports, 25 to 46 Ports, 47 to 64 Ports and 65 and Above Ports Markets for the Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)

3. EUROPE

A. Market Analysis
Current & Future Analysis
Product Launches
Strategic Corporate Developments
B. Market Analytics

Table 32. European Recent Past, Current & Future Analysis for Interactive Voice Response (IVR) Systems by Product Segment - Less than 24 Ports, 25 to 46 Ports, 47 to 64 Ports and 65 and Above Ports Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 33. European Historic Review for Interactive Voice Response (IVR) Systems by Product Segment - Less than 24 Ports, 25 to 46 Ports, 47 to 64 Ports and 65 and Above Ports Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2009 through 2014 (includes corresponding Graph/Chart)
Table 34. European 14-Year Perspective for Interactive Voice Response (IVR) Systems by Product Segment - Percentage Breakdown of Revenues for Less than 24 Ports, 25 to 46 Ports, 47 to 64 Ports and 65 and Above Ports Markets for the Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)

4. REST OF WORLD

A. Market Analysis
Current & Future Analysis
Asia-Pacific
Developing Asian Countries: Focal Point for Future Growth
Southeast Asian Companies Adapting IVR Systems
Speech Recognition Technology in India: Yet to Take Off
Market Trends
Asia-Pacific IVR Market Embraces Incredible Growth Potential
IVR Systems to Witness Advancement in Speech Recognition
IP Technology in IVR Systems to Gain Acceptance
Strong Demand for Smartphones Augurs Well for IVR Market in Asia-Pacific
Latin America: Market Overview
Competitive Scenario
Product Launches
Strategic Corporate Developments
B. Market Analytics

Table 35. Rest of World Recent Past, Current & Future Analysis for Interactive Voice Response (IVR) Systems by Product Segment - Less than 24 Ports, 25 to 46 Ports, 47 to 64 Ports and 65 and Above Ports Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2015 through 2022 (includes corresponding Graph/Chart)
Table 36. Rest of World Historic Review for Interactive Voice Response (IVR) Systems by Product Segment - Less than 24 Ports, 25 to 46 Ports, 47 to 64 Ports and 65 and Above Ports Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2009 through 2014 (includes corresponding Graph/Chart)
Table 37. Rest of World 14-Year Perspective for Interactive Voice Response (IVR) Systems by Product Segment - Percentage Breakdown of Revenues for Less than 24 Ports, 25 to 46 Ports, 47 to 64 Ports and 65 and Above Ports Markets for the Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)

IV. COMPETITIVE LANDSCAPE

Total Companies Profiled: 84 (including Divisions/Subsidiaries - 85)
The United States (61)
Canada (9)
Europe (5)
  France (2)
  Germany (1)
  Spain (1)
  Rest of Europe (1)
Asia-Pacific (Excluding Japan) (9)
Middle East (1)
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